Mets buyout outfielder Jason Bay

The Mets and outfielder Jason Bay agreed to part ways on Wednesday, ending a three-year stint with the team. (Alex Trautwig/Getty Images)

The New York Mets and oft-injured outfielder Jason Bay agreed to part ways Wednesday, with Bay accepting a buyout, the team announced.

Both sides negotiated an early end to his contract. Major League Baseball's union opposes any reduction in the value of a player’s contract, so Bay will get all of the $21 million he is owed from the team.  Bay will receive a $16 million salary, a $3 million buyout and the $2 million that is left on a signing bonus. The money is being deferred and the Mets will spread out payments over the next couple of seasons.

Bay signed a four-year, $66 million contract with the Mets in December 2009 after spending parts of two seasons with the Boston Red Sox.

Bay, 34, immediately becomes a free agent. Bay only played in 70 games with the team in 2012, batting .165 with eight home runs and 20 RBI.

Bay hit .234 in three years with the Mets and played in only 288 games. He also had 26 home runs, 124 RBI, with a .687 OPS and 258 strikeouts.